These homebuyers can gain from new insolvency rule
The Insolvency and Bankruptcy Board of India (IBBI) amended the insolvency rules with the aim of giving relief to specified homebuyers who are stuck in projects where the…
Attributed summary
The Insolvency and Bankruptcy Board of India (IBBI) amended the insolvency rules with the aim of giving relief to specified homebuyers who are stuck in projects where the builder has gone insolvent. This amendment says that now, if there is a viable project built by a builder who is under the insolvency process, then this viable project won’t be included in the insolvency process if it gets the majority votes.
Read the original report — Economic Times
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